Product Ideas

Do we have any ideas for our project?
Here are mine so far:
Human Teleporting Device
Flying Car (Maggie I think that was yours first)
Software/Hardware to control your computer just by thinking
Self Driving Cars (reduction of accidents/speeding)
Large scale greenhouses for climate control to increase farming on a local scale

Article Writeup

Article 1 : The Future of Advertising is Now – June 2006


1) At a breakfast seminar in May 2002 a CEO of major television company said he was not conserved with future of advertising in digital media. “It’s the simple law of supply and demand, major marketers need to reach mass audiences, and we are the only (emphasis added) game in town, They have the demand. We have the supply. And as with any product, as that supply gets harder to find, you can charge more for it.”

a. I found this interesting, specifically that at the time he claimed that TV, or more specifically above-the-line advertising was “the only game in town”. It seems so long ago that internet ads and digital media didn’t exist and in this guys mind, it never would


2) “These can be glorious times for media companies and marketers that are capable of change.


a. The ability to adapt and change in a market that has had such stringent rules over the past 30 years or so has got to be a difficult challenge to overcome. I’m reminded of Alec Baldwin’s famous performance in Glengarry Glen Ross (1992) “Always be closing” speech, “You got leads, Mitch and Murray paid good money. Get their names to sell them. You can’t close the leads your given, you can’t close sh*t, YOU ARE SH*T. Hit the brinks pal cause you are going out.”


3) Successful advertisers are those learning to reconfigure efforts by

-Shifting spending/Management attention to digital media

-Developing formats to include interaction with consumers

-Creating new metrics to measure outcomes

-Combining above-the-line (mass media) with below-the-line (consumer specific) advertising

-“In-sourcing” new talent to exploit opportunities in digital media


4) In 2004 10% of Chrystler’s advertising budget was online, in 2006 it was 30% and by 2008 it was to be 50%


a. The steep almost exponential growth of the online advertising field during the first decade of the new millennium makes me think that there will be continued advances in technology and to not get comfortable with just advertising on-line.


5) Different types of online video content include

-Video on demand (paid for by consumer)

-Ad-supported video (paid for by advertisers)

a. Comcast says that 65% of its customers with video on demand use the function on average 23 times per month.


6) Exhibit 6: “The Purchasers Funnel”: a linear sequence of mental events, with each stage dependent on the success of the previous stage, producing a ladder-like progression towards purchase.















7) Video game systems – Xbox, PlayStations, Nintendo’s … sales expected to grow rapidly as technology increases, consumers say they like the authenticity that real-world advertising lends to fictional game environment.


a. This seems like a great opportunity for companies that can incorporate their message into video game systems (FIFA Soccer, NCAA Basketball, Grand Theft Auto…)


8) The accountability Revolution. Being able to track online purchases allows marketers the ability to know whether their advertising is resulting in specific purchases. Before there was no conclusive evidence on way or another as to whether advertising was significantly increasing demand, but with digital media, marketers are provided with a myriad of information that they can use to increase below-the-line marketing and show its effectiveness.


9) Postbroadcast Identities. Advertisers are being much more aggressive in marketing, turning away from broadcasting to the masses toward a more focused approach of targeting specific customers. Chrystler hosted a Jeep Camp to advertise its products to specific customers and Home Depot used a partnership with DIY Network to bring in “toolbelt-divas” into their stores.


10) In House Renovation. Nearly 70% of all U.S. Companies have reorganized their marketing departments from 2001 to 2006 in include digital media. Companies need to realize that they are dealing with unprecedented complexity and they need to make their choices accordingly.



Article 2: The Battle for Your Social Circle (November 2007)


1) Biggest problem facing digital advertising industry is that companies spend a large portion of their advertising budget to target online consumers, but the average consumer is not impacted by the online advertising. “The internet has vacuumed the value out of all manner of industries from music to retail…”

a. The bleak outlook of advertising online is a difficult challenge. Companies understand that consumers are spending a lot of time online, but the difficulties of reaching them and influencing them to make a purchase (especially when so much content is free) is the great challenge.


2) The typical consumer trains their eyes to ignore Google advertising, banners and other online advertising. Facebook CEO Mark Zuckerberg wanted to transform this into something that consumers could use and “Like”.

a. Facebook is developing its “Like” button to be able to leave the confines of Facebook.com and be integrated into the entire internet, so that any webpage out there can be “Liked” by internet users. This will give timely feedback to developers and marketers as to what people are wanting form their online experiences.


3) Google is the Goliath of the internet industry, it understands that ad revenue is big business and is pouring a lot of effort into social networking sites such as Ning, MySpace, Linkdin and Orkut in order to encompass a greater number of viewers. Google also hopes to develop a “run-anywhere” platform and ad strategy that can be incorporated into all of these networks in order to compete with Facebook.


4) Facebook worries about “spamming your friends” and widget makers for Facebook worry that “new types of news feeds, placements and pages being to dilute the Facebook news feed”

a. Consumers know when an online platform has been exploited by businesses, that is one reason why MySpace hit a wall and lost a large percentage of its users to Facebook. In order to keep a loyal population, Facebook must limit its advertising and corporate influence.


5) Facebook and Google both realize the importance of the online population being able to interact with companies, the premise of turning some of the online population into “fans” and interact with the potential consumers is driving the digital advertising industry. Social interaction with consumers is the 21st centuries equivalent to the TV commercial of the 1940’s, it’s not perfect, but it’s a good start.